INTD 200 Lecture Notes - Structural Adjustment, Debt Crisis, Neoliberalism
19 Dec 2012
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Wednesday, september 26, 2012: debt and structural adjustment. Post wwii, there was a lot of lending from the imf and the world bank to support keynesian model economics. A lot of this lending was using to prop up dictators corruption in how the loans were distributed to different countries. 1970s: the era of surplus capital and loan pushing. There was an increase in loan pushing. The growth of the world economy stopped (it was growing due to japan and europe recovering, and this was completed). There was less demand for comedies being exported by the developing world, and the us had racked up debt to support wars, projects during the cold war, etc. There was an economic crisis at the end of the 1970s. The value of the dollar dropped (it was pinned to gold at that time the gold standard) due to this slowed growth.
